Bank of New York Mellon Corp Acquires 11,742 Shares of GrowGeneration Corp. (NASDAQ:GRWG)

Bank of New York Mellon Corp raised its position in GrowGeneration Corp. (NASDAQ:GRWG) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 194,974 shares of the company’s stock after purchasing an additional 11,742 shares during the period. Bank of New York Mellon Corp owned approximately 0.32% of GrowGeneration worth $419,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GRWG. Symmetry Peak Management LLC bought a new stake in GrowGeneration in the fourth quarter valued at approximately $201,000. Mirae Asset Global Investments Co. Ltd. increased its stake in GrowGeneration by 9.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 500,125 shares of the company’s stock valued at $1,461,000 after purchasing an additional 42,123 shares in the last quarter. Vanguard Group Inc. increased its stake in GrowGeneration by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,992,591 shares of the company’s stock valued at $8,559,000 after purchasing an additional 21,306 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in GrowGeneration by 47.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,104 shares of the company’s stock valued at $198,000 after purchasing an additional 22,269 shares in the last quarter. Finally, AWM Investment Company Inc. boosted its holdings in shares of GrowGeneration by 17.8% in the first quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock valued at $2,865,000 after buying an additional 151,000 shares during the period. Institutional investors own 36.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GRWG shares. Roth Mkm reduced their price target on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a report on Friday, August 9th. Lake Street Capital reduced their price target on shares of GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a report on Friday, July 26th. Stifel Nicolaus reduced their price target on shares of GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, Alliance Global Partners reduced their price target on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $2.75.

GrowGeneration Trading Up 4.5 %

Shares of GRWG opened at $2.09 on Wednesday. GrowGeneration Corp. has a 12 month low of $1.77 and a 12 month high of $3.38. The firm has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $2.34. The stock has a market capitalization of $126.88 million, a price-to-earnings ratio of -2.66 and a beta of 3.13.

GrowGeneration (NASDAQ:GRWG) last announced its earnings results on Thursday, August 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). GrowGeneration had a negative return on equity of 19.43% and a negative net margin of 23.91%. The business had revenue of $53.54 million for the quarter, compared to analyst estimates of $53.00 million. During the same quarter in the previous year, the company posted ($0.09) EPS. As a group, research analysts predict that GrowGeneration Corp. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Darren Lampert purchased 85,300 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $1.88 per share, for a total transaction of $160,364.00. Following the completion of the purchase, the chief executive officer now directly owns 1,518,420 shares in the company, valued at approximately $2,854,629.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, President Michael Salaman purchased 85,301 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $1.88 per share, for a total transaction of $160,365.88. Following the completion of the purchase, the president now directly owns 1,425,376 shares in the company, valued at approximately $2,679,706.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Darren Lampert purchased 85,300 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $1.88 per share, with a total value of $160,364.00. Following the purchase, the chief executive officer now owns 1,518,420 shares of the company’s stock, valued at $2,854,629.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 246,685 shares of company stock worth $468,800. 7.07% of the stock is owned by insiders.

GrowGeneration Company Profile

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. The company engages in the marketing and distribution of nutrients, additives, growing media, lighting, and environmental control systems, as well as other indoor and outdoor growing products.